Metaplanet Expands Bitcoin Portfolio to Over 630 BTC with Latest Purchase

Bitcoin Metaplanet
The company has acquired over 200 Bitcoin in under two weeks.
Last updated:
Crypto Reporter
Crypto Reporter
Shalini Nagarajan
About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Japanese investment firm Metaplanet declared Monday that it added another 108.78 Bitcoin to its portfolio for 1 billion yen ($6.7m).

This acquisition raises the firm’s total Bitcoin holdings to 639.5, valued at 5.96 billion yen, or about $40m.

Bitcoin-Focused Treasury Strategy Mirrors MicroStrategy’s Approach

Metaplanet has for a while been aggressively pursuing a Bitcoin acquisition strategy. This move marks a shift in how it manages its corporate treasury. Metaplanet, also known as “Asia’s MicroStrategy,” appears to follow the bold Bitcoin investment approach championed by Michael Saylor.

The company adopted Bitcoin to counter traditional economic challenges, particularly in Japan’s negative interest rate and quantitative easing environment. Since announcing its Bitcoin strategy, the company’s stock has surged, reflecting strong investor approval of the approach.

Metaplanet Gains $1.4M in Bitcoin Premium

Last week, the firm made a similar Bitcoin purchase as the crypto market entered the fourth quarter with optimism.

Shortly after, it announced earning 23.9 Bitcoin ($1.4m) in premium income by selling 223 Bitcoin put options to Singapore’s QCP Capital. The firm stated this deal lets it benefit from Bitcoin’s volatility while keeping a fully cash-backed position.

Metaplanet recently announced a partnership with SBI VC Trade, an SBI Group subsidiary, to manage corporate custody services for digital assets like Bitcoin. This collaboration focuses on ensuring compliance and tax efficiency.

Additionally, Metaplanet has been actively raising funds through stock acquisition rights. It plans to use this capital for further Bitcoin investments or other digital asset opportunities.

More Articles

Japan’s Metaplanet Profits 23.9 BTC from Selling 223 Bitcoin Put Options
2024-10-03 13:04:10
Bitcoin News
Metaplanet Purchases Another 107 BTC as Crypto Market Begins Q4 with Positive Momentum
Shalini Nagarajan
Shalini Nagarajan
2024-10-01 05:24:01
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors